Stop loss at 16.55, first target at 17.76 valid for 5 days. After 5 days, if target is not reached, I will manage the trade accordingly, either I get stop out, or I react to certain price patterns. My first target also means I may just take half my position off on a discretionary basis when the time comes. Discretionary because I want to assess the price action on that day when it reaches 17.76. Then I will decide if I take half or full position off.
These are my thought processes as I look at the chart. These thoughts form as a result of experience trading the markets over 6 years or more. As always risk small.
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